The crisis between Ukraine and Russia has been driving up oil prices as they reach very high levels. Amid the decision of the Joe Biden government not to buy more oil from Russia, Colombia will increase its sales to the United States by 40,000 barrels.
It is estimated that the United States needs about 200,000 barrels of crude oil from other countries to meet its needs.
The plan implies that companies accelerate investments in the 69 blocks that have been awarded in this Government. However, it is not ruled out that in the midst of the ongoing area allocation process the country will be able to complete the 100 contracts signed by the end of the year.
The geopolitical context has also triggered interest in Colombian coal. The country sold back to Ireland (which had been buying from Russia for five years) and the country has also received calls from countries such as Poland and from a number of countries in Eastern Europe through the World Bank.
These titles correspond to the open pit coal exploitation in La Juagua, which already has an environmental license. The Government will open the process this month and expects to adjudicate it before August 7.
Recently, the Ministry of Mines and Energy, together with the Ministry of Transport, signed a memorandum of understanding with the Port of Rotterdam to create a low-carbon hydrogen export corridor between Colombia and the Kingdom of the Netherlands.
The President of the Republic, together with the Minister of Mines and Energy, Diego Mesa, inaugurated the first two low-emission hydrogen pilot projects in Colombia.
From Cartagena, the national government accompanied the implementation of the Ecopetrol electrolyser in Reficar, which has a power of 53.2 kW and which will allow testing the potential use of water in processes and the stability in the production of this technology.
Later, officials also opened the exploratory pilot project for the production of green hydrogen and natural gas blending in transmission and distribution networks, located at the Heroic Station of Promigas.
It is estimated that the development of hydrogen will allow Colombia to reduce between 2.5 million tons of CO2 in the next decade, which contributes to meeting the COP21 goals of achieving carbon neutrality by 2050.
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